Evening Star Newspaper, July 5, 1931, Page 3

CONDTONSHEL GRAVE N BERL Reichsbank Reserve Depleted by $10,000,000 Friday and $7,500,000 Yesterday. By the Associated Press. BERLIN, July 4—The eyes of Ber- lin’s financial world were fastened anxiously tonight upon the continua. tion of the Franco-American repara- tions conferences at Paris, satisfactory completion of which was being de- pended upon to stop the melting of the | reserves of the Reichsbank. The failure of the conferces to reach | & complete accord last night had a decidedly gloomy effect here, where every hour’s delay costs runs on foreign exchanges and withdrawals of short- term credits. The forelgn exchange reserve of the Reichsbank was depleted yesterday by between $10,000.000 and $12,500,000, and today by about $7.500.000. The cabinet met during the day with Reichsbank President Luther for a dis- cussion of conditions, which were rapid- 1y becoming like those of June 20, which led President Hoover to an- nounce his plan before it was generally expected. President Luther of the Reichsbank ‘was reported to have told the cabinet that unless a solution was reached he would be forced to restrict credits still further and to accept no drafts ma- turing under 30 days. If the gold cover of paper curreney ts further reduced. it was believed, it would automatically entail raising the discount rate. There was a prospect that, as mat- ters stood, the general board of the | Reichsbank might be econvened Mon- day to authorize temporary measures of an unusual character. These measures, it was forecast, would permit the Reichsbank management to lower for 8 short period the coverage of bank notes which, by bank statutes, 1s fixed 2t 40 per cent in gold and foreign ex- changes. A percentage as low as 20 was being mentioned today as & pos- sibility. By way of explanation, it was stated that the continuous demand for foreign exchange had compelled the Reichs- bank to use up the entire 42,000,000 marks resdiscount credit given it by a group of international banks of issue only a few days ago. This credit must be repaid July 16. DEBT DELAY PARTIAL BENEFIT, SAYS BORAH Nations Urged to Restore Silver Purchasing Price, July 4 Crowd Told. B the Associated Press PARMA, Idaho, July 4—Urging that | the leading nations of the world take action to restove the purchasing price | of silve’, Serator Willlam E. Borah declares today a year's moratorium on war debts and reparajions alone would not_bring a r-turn of' prosperity. The chairman of the Senate Foreign Affairs Committee, in addressing an In- dependence day gathering, said a mora- | torium “will only be fruitful in case we | tak> advantage of that year to do that | which it is nescssary to do in order to | bring relief.” The remedy he put forward was res- toration of the purchasing power of silver, & movement which he d-clarrd would enhance the purchasing power of the wotld, now crippled by international sction in making gold the world's money medium. France and the Unit-d States now hold 65 per cent of the world's gold. he said, leaving the balinee of the 1,600,000,000 people of the world with 8 scant supply of 21 cents per capita “Is it any wonder that you hav> heard every now and then the strangs and un- natural language of revolution?” ‘The gold in the United States is un- willing to come out of hiding, he said, for anything exc>pt national securities. NATION’S DUCK SUPPLY IMPERILED BY DROUGHT Northwest Breeding Range to Be Studied for Remedy by U. 8. Survey and Canada. By the Associated Pross. The Nation's supply of ducks has become endangered by the Northwest drought. As a result the Biological Survey, in co-operation with Canadian official has undertaken a study of the breed ing range to determine what can be done. A large decrease in ducks was noted during the last hunting season. For several years drought conditions have been unfavorable during the breeding season in the Northwest. A good share of the wild fowl that spend the Fall and Winter months in the United | Sta from_that_area. PECIAL_NOTICES. SFFICE OF THE FIREMEN'S INSURANCE COMPANY OF WASHINGTON AND GEORGETOWN. A special meeting of the stockholders of g company is hereby called to_take place ?_the offices of the company, 303 7th st nw. Washington. D. C.. on the seventh (tn) day of Juis. 1931, at twelve (12) | @'clock noon, to consider and act upon the solution which was unanimously adopted 7 the Board of Directors at a regular meet- ing held on June 22. 1931, for the purpose of amending the charter of the company to rmit it (o underwrite additional forms of surance and to increase its capital stock. __ALBERT W. HOWARD. Secreta CHAIRS FOR _REN1, SUITABLE FOR BRIDGE PARTIES, banquets, weddings and meetings, 10c up Der day each; new chairs. lso invalid rolling chairs for rent or sale. HRITED STAT CO.. 418 j0th ES STORAGE COLLECTION e, n.w. _Metropolitan_1844. A0 OWES YOU MONEY? specialists. No_charge for services unless eollection is made. FEDERAI, PROTECTIVE GOING?> WHERE? TELL US WHEN AND we'll move your furniture and take mighty at low cost telephone save you time and trouble. NATL ASSN.” Phone Natl. 1460. BE RENT—_SECOND-FLOOR STORE OR ; desirable ocation: corner 10th & E ts. n.w.;_opposite new building of Potomac lectric Power Co.: entire floor: attractive lease terms to good tenant. Call MR. MOTT. Princi[;als in War Debt Parley l i S their conference on President Hoover's war debt plan. MELLON AND EDGE WITH MEMBERS OF THE FRENCH CABINET. ECRETARY OF THE TREASURY ANDREW W. MELLON and United States Ambassador Walter E. Edge photo- graphed with Premier Pierre Laval and other members cf the French cabinet in Paris recently, before openin Left to right: Francols Pletri, minister for the budget Premier Laval, Secretary Mellon, Ambassador Edge, Aristide Briand, minister for foreign affairs, and Pierre- Etienne Flandin, minister for finance. —A. P. Photo. RTCHE SEESEND OF DEBTPAYNENTS Governor Asserts Year's Sus- | pension Is Step Toward Cancellation. By the Associated Press. BALTIMORE, Md., July 4.-Accept- ance by Europe of the Hoover plan will | States of its debts from foreign na- | tions, Gov. Albert C. Ritchie of Mary- land predieted tonight. In an Independence day address, | broadcast over a Nation-wide hook-up, the Maryland executive said that if the Hoover plan was accepted “There is no likelihood that foreign debt pay- | ments under the Young plan will ever be resumed.” German Collapse Feared. ‘The Hoover plan, said Gov. Ritchie, was based on the disastrous effect the financial and economic collapse of Ger- many would have on Europe “and then on us.” “The proposal has not only brought | this out into the open, but it forces recognition of another thing which the Federal Government and the people might as well face. If the suspension of one year is put into effect then there is no likelihood that the foreign debt payments under the Young plan will ever be resumed. “The surprising thing is that we have thought the prevailing conviction among | our people to be that the foreign coun- tries must be requiicd to pay their debts to us, and yet we find our coun- try responding favorably to a proposi- tion which will doubtlessly be the be- ginning of the end of these pavments.” ‘The Maryland Governor said “that * * * if Germany does not pay the reparations to the allies, then the allies are not going to keep on paying their debts to us.” | Must Not Buy Arms. He declared that no matter what the { outcome of the debt conferences, the effects “must not be used by the bene- | fiting countries to aggrandize their armaments.” Sperding of the problems presented | by the business depression, Gov. Ritchie declared that “the ostrich has become the favorite political bird of the na- tional Government,” and attacked the 20-year plan broached by President Hoover as a picture of the Nation under “self-{nitiative and self-reliance” which already has been shown. High tariffs as a bar in the path of nations seeking trade were attacked by the executive. | “Of what benefit is this tariff to the | Nation,” Gov. Ritchie asked, “when, | with foreign trade the only outlet for | surplus, we shut the door on nearly all | our best customers, until our export t;;ge fell off nearly a billion dollars in | b i “How can we expect: these nations | | to pay their debts to us. if we make it | imposstble for them to trade with us?” 'SPANISH STATESMEN QUIT MADRID TO REST| Calmer Political Sitnation Enjoyed by Cabinet Before Assembly Opening. By the Associated Press. MADRID, July 4—Cheered by the prospect of a more calm political situ- ation before the opening of the Na- tional Assembly, members of the Span- ish cabinet left Madrid today for the week end. Although labor unrest continued in Andalusia and a general strike was threatened at Coruna for Monday, working conditions seemed generally improved throughout the country. The Catholic newspaper El Debate today attacked Minister Domingo's re- strictions on the export, of artistic treas- ures, declaring the minister was trying to place the church in a bad light. ‘The p-rer declared the government was principally responsible for the de- terioration of the country’s art treas- ures through fallure to furnish sufficient police protection to prevent the robbery and burning of religious bulldings. WANTED—| From NEW YORK . To PHILADELPHIA PA. To CLEVELAND . To BOSTO! And all_poins ‘West. ALLIED VAN LINES. We aiso pack and ahip by STEEL LIFT VANS anywhere, MITH'S TRANSFER & STORAGE CO.. 1313 You St N.W. Phone North 3343-3343. SPECIAL! FRICTION TIRE TAPE. Hal-Found Colls, EIG! IL. Two_Colls for Fifteen Cents. UNION 615 7th St. N.W/., HOUSE MOVER, As Washington's most successful house mover and among the many building operat- tions 1 have handled, I have moved 15 brick July 8 y iy 7 uly 10 INT ouse, ere. P. DUDLEY, 354 Van St. 8.W. s, * HEATING EXPERTS Repairs. New Installati Always st your service. Let us estimate. BUDGET PAYMENTS if desired. d. OOD ¢ wunv C. H' D O. St. NW. Day, Dec. 2700—Evenings, Clev. 0619 E CO.| 'GERMANY TO UNVEIL BUST OF STRESEMANN |Monument to Mark Nation's Thanks for Liberation From Foreign Occupation, | By the Asosciated Press. MAINZ, G<rmany, July 4.—This an- cient city on the banks of the Rhine prepared today to pay homage to Gus- tave Stresemann, the man Germany thanks for the liberation of the Rhine- land from for: occupation. Stresemann dled in ;fi: execution of his self-imposed task. His memory will be honored tomorrow when a mony- ment of him will be unveiled here, where for a decade after the war the French tricolor floated. The inscription around the bust read: “To the freedom of the Rhineland,” “To the greatness of the German Father- iand,” “Erected by a grateful German S"Ae:m.nt'!‘i: tributors to the memo- contribuf me! rial ‘are Prank B, Kellogg\ David Lioyd George, Austen Chamberiain, Ramsay MacDonald, Arthur Henderson, Aristide Briand, louard Herriot and Count Bethlen of Hungary. mean the eventual loss to the United |- and “In memory of Gustave)ing Debt Holiday Facts By the Associated Press Negotiations at Paris last night produced the “basis of an ac- c?rd" on the Hoover moratorium plan. This is being transmitted to Washington for American ap- proval. Officials regarded one point, concerning contracts for pay- ments in goods by Germany, as still preventing complete agree- ment. In a memorandum to Prance, Washington suggested that if this cannot be cleared up it be referred to a Committee of Financial Experts from the in- terested powers. ‘The memorandum revealed that points agreed upon were: Unconditional annuities will be paid into the Bank for Inter- natiopal Settlements and re- loaned to the German Railway, which in turn can make direct or indirect loans to the German government. Loans amounting to $25,000,- 000 which Prance wished to be made small Central Powers from the unconditional payments will be cared for by lcans from the central banks of England, France and America. Differences over funding sus- pended payments were compro- mised. France asked for five years and the United States 25 years. A period of 12 years was agreed upon. France indicated that the ques- tion of guarantee payments could be dropped from the discussion 80 far as the American Govern- ment was concerned. BASIS OF COMPLETE DEBT AGREEMENT IS REACHED IN PARIS (Continued From First Page) ment, but they had practically no coun- sel from technical experts, The Prench statesmen were aided by a of experts and it is conceivable that some changes may be suggested by Washing- ton after the agreement is examined there. On two points, which remained un- settled, it is understood that tonight's agreement provided as follows: On the question of suppression of de- | liveries in kind, which had been rec- ommended by the United States, was decided that this matter can well be left to the countries affected to be regulated among themselves. Purely European Question. e United States is understood to ‘The have decided that, after all, this is| purely a European question, affecting | the signatories to the Young plan, with which America feels it has no real right to concern itself. This question will doubtless figure on the agenda of the projected Young plan conference. FPrance has particularly stressed what she calls the justice of allowing the operation of those centracs for de- liveries in kind made with Germany by such countries as Jugoslavia and Cazechoslovakia. The French feel that the renunciation of these contracts would prove a serious financial blow to those coutitries and they argue that it would also tend to increase unem- | ployment. in Germany. The second point which needed set- | tlement at the conference was that of the period of time which would be given Germany to refund the one year's reparations payments to be sus- pended under the Hoover plan. Time Reduced to 10 Years. In the spirit of concession, Secretary Mellon and Ambassador Edge had cut down their original period of 25 years to 10. Prance wanted to limit the period to five years but the Prench statesmen were understood to have ac- cepted the emphasized American con- tention that this would not afford suf- ficient time to Germany and might un- favorably affect the Basic idea of Presi- dent Hoover's plan to afford real help | to a Germany now in distress. Germany is to get back all of the suspended annuities, as credits, through the World Bank for International Set- tlements. The desire of France to have some Central European country benefited by this credit will be met in another way, By advances from central banks, including, presumably, the Amer- ican Federal Reserve Bank. Suggestions Offered. Various suggestions have been put forward to-meet France's desire to be relieved of depositing a guarantee fund in the World Bank for International Settlements in the event of a future moratorium request by Germany. These must go_through the mill of the forth- coming Young plan conference, ‘They include a proposal that France deposit only & part of the stipulal 500,000,000 reichsmarks (about $125,- 000,000) and a suggestion that the guarantee fund be abolished altogether and a new accord worked out with countries which might need credit ad- vances because of the cessation of con- ditional reparations payments by Ger- many. For instance, it was proposed that France might suggest some arrange- ment for paying out parts of the un- conditional annuities which she would receive m Germany during the mora- torium period, to take the place of the conditional annuities which other coun- tries entitled to reparations would lose. & Conference Ends at 1 A.M. was just before 1 o'clock this morn- that the French and American con- ferees emerged from the conference chamber and that the communique they issued was read. Secretary Mellon and Ambassador Edge, accompanied by Councelor of Embassy Marriner and the embassy secretary, Robert Pell, walked swittly through the crowd of waiting it | BUS DRIVER HELD ON FOUR CHARGES Accused Was Drunk and De- liberately Struck Auto, Officer Reports. By a Staff Correspondent of The Btar. HYATBBVILLE, Md, July 5—Ar- rested after his bus collided with & policeman’s car on the Baltimore Boulevard, Frederick Reading of 600 block of Irving street, Washington. a driver for the. Capital Traction Co., was booked for driving while drunk, speeding, reckless driving and resist- ing_arrest here last night. Policeman Arthur Brown said he attempted to stop the bus for speed- ing near Muirkirk. When he pulled in front of the machine, however, ha claimed the bus driver deliberately drove into the rear of his machine and then s away. Brown called the local substation and two other officers were dispatched up the boulevard and succeeded in stop- ping the bus. Reading was arraigned before Justice of the Peace John A. Downing, who fixed his bond at $1,000. The bus had been specially chartered and was carrying a crowd of colored persons back to Washington. Bronw's car was only slightly dam- aged by the collision. newspaper men and entered their auto- mobile. The parley was held in the private office of Premier Laval. They were driven swiftly to the resi- dence of Ambassador Edge, where they immediately put in a transatlantic tele- phone call for Washington. The text of the basis for the agree- ment was translated into English at the same time and cabled to Wash- ington, where it was expected that it would be scrutinized today. If President Hoover or members of his cabinet, or American experts, have any changes to suggest they will prob- ably be taken up tomorrow night or Monday morning with Premier Laval or Foreign Minister Briand. If these suggestions are vital in nature there will have to be another formal change of views between the negotiators. If President Hoover finds that the principles of his plan have been lived up to, it is expected that the final ses- sion of the statesmen will be held Mon- day to conclude the accord. Text of Communique. The following is the text of an of- n’cl;‘l communique issued after mid- night: “During the conference held tonigh® the Prench negotiators gave to Secre- tary Mellon and Ambassador Edge the | text of the basis of an accord approved “This text was established on the foundations of the PFrench note and will be telegraphed tonight to Wash- ington, with modifications which were made by common accord. “The American Government will make known Monday whether the agreement is in conformity with the principles of the Hoover plan. “The final decision will be made Monday. “Another meeting will be held Mon- day afternoon.” Day of Intense Activity. Tonight's session of the French and S e g a day of intense a y. Ambassador Edge also managed to attend several Fourth of July celebra- tions and to a reception at the embassy this afternoon, when several hundred Americans called to take tea on the buu'll(ul terraced garden of the. ambassadorial residence. In addition to this the Ambassador found time to call upon Finance Min- ister Flandin and, sccompanied by Secretary of the Treasury Mellon, upon Foreign Minister Briand. The object of these visits was to clarify the Ameri- can Government’s attitude on two un- settled questions involved in the repa- rations negotiations, previous to the French cabinet meeting. The fact that the cabinet sat about two hours was regarded as an indica- flgn that lmmfi lllo'nl:;r‘l’!lbl'l:e: q?lo;l- siderable importance w - tions which were called “minor” in Fri- day night's communique. Communique Noncommittal The communique issued after today’s cabinet session was noncommittal. Le Temps tonight expressed the hope that the tories to the Young plan would be able to indorse the projected Franco-American arrangement without the necessity of a formal conference. “A mn.(erence ‘Zg:ld brlr;l .T‘l;nel"z;g: inconveniences,” papel , nobody wants to reopen a discussion of 12 | the entire Young plan.” Le Temps continued to say that the mnoo-mz:mn accord, which it be- lieved to be assured, constituted an event of international importance of the first magnitude and opened . pathway to future cflofieunm of America in European affairs. The Nationalist journal Des Debats captioned its editorial “An Error of Difficulty.” ing that the official comm much more “prudent.” It that the arrangement would fillelw negotiations with an powers. Young sk 1 bete n fore us. mu p-re already glee! hands, because they conference lem of reparal el D. C, JULY 5 1931~-PART DEBT AGREEMENT SEEN TOMORRO German Reparations in Kind Only Polnt_nemaining to Be Settled. (Continued From First Page.) 1 o'clock this morning, French time. This is the second night in succession that the veteran Secretary of the Treas- ury has conferred with the French until the early hours of the mm“ He talked with officials here for it 10 minutes on the telephone. As the matter stood last night, it aj that the Prench government and the American Government had reached an understanding on all the major points involved in this discus- | oerorded. sions of the debt plan except<the pay- ments in kind of German reparations. The American Government has in mind, it is said, the need of as com- plete a ion of all payments for Gemun’ as is poasible during the com- ing year, and for that reason is anxious that any agreement regarding payments in kind shall conform to the general principle of the American proposal. Memorandum Cabled. Just how extensive are the payments in kind, which the French are main- taining should be paid, officials here were unable to say last night! They expect to be more fully informed by the memorandum which was being cabled from Paris last night. In dis- cussing the payments in kind here, it has been roughly estimated that they might run to $35,000,000, covering con- tracts for materials already entered into. Under the reparations plan, Ger- many has been permitted to pay in kind, in [oo!ds‘hlnmm ol.‘ind money, to meet part of the payments due. Mux. of the questions which have caused delay in an accord between the governments of the United States and France on the debt suspension plan have arisen out of the complicated ma- chinery of the Young plan, a plan in which the United States itself has no actual part, it was said last night. Por example, included in these knotty ques- tions have been the relationship of the French to the guarantee fund; the mat- ter of the loans to the Central Eu- ropean nations other than Germany insisted upon by Prance, and the mat- g d‘.fl the payment of reparations in Guarantee Funds, Problem. ‘The guarantee fund provision of the Young plan was from the start one of the main difficulties in coming to an agreement with Prance. The French proposed that they be relieved of pay- ing the guarantee fund into the Bank for International Settlements in the event that Germany should declare a moratorium next year, at the end of the debt suspension period, and that the money paid by Germany into the Bank for International Settlements this year be substituted for the guarantee fund. But this did not appear in any way a measure of relief to Germany, since if it was in such condition next year that it could not pay its condi- tional reparations, it would then be faced with the need of paying twice the amount of its unconditional reparations. Launched just two weeks ago, the Hoover plan met immediate and hearty esponse from all quarters of the globe. It brought immediate and favorable reaction on the markets here and abroad. It re-established confidence at a time when there was danger of finan- cial collapse, starting with Germany and knocking the pins from under other nations, until the whole should go down like & pack of cards. It sounded a new note and thrust America into the leadership at a time when leadership was desparately needed. Reply pisappointing. Next to the United States, France stands to make greater sacrifices than other nations under the debt suspen- sion plan. Her assent to the plan was of great importance. Her first reply, while cordial in tone was a disappoint- ment, in that it did not subscribe to the underlying principle of the Hoover plan, the suspension of all debt payments for the period of one year, nor provide the fullest relief for Germany, regarded as the weakest link in the chain. ‘The debt suspension pla ithough delayed somewhat by the negotiations in Paris, will become efféctive as of July 1, and is to run for a year, ending June 30, 1932. The Hoover plan was stated clearly and concisely in the statement made by the President on June 20, announcing America’s offer to the world. He said: ““The American Government proposes the postponement during one year of all payments on intergovernmental debts, reparations and relief debts, both principal and interest, of course not in- cluding obligations of governments held by private parties.” ‘The President said also that this Government would suspend for one year all the payments due it by foreign governments, conditional on a like post- ponement of all intergovernmental debts owing the important creditor powers. Germany Chief Beneficiary. Germany will be the principal bene- ficlary under the plan. #md Germany, it was explained, was in greater need of assistance ‘than any other nation, facing a collapse financially and gov- ernmentally unless there should be some measure of aid from outside. Her total reparations payments, growing out of the World War, during the coming year amount to something in excess of $400,000,000. However, because of cer- tain cash payments which under the Franco-American agreement now made, she will not benefit by quite that amount. ‘The United States stands to make the principal sacrifice during the coming suspension payments due this coun- try by debtor nations totaling $260,- 000,000. The principal and inter- est due from the debtor mations to this country on the funded war debts amounts to about $245,000,000. In ad- dition, the United States will forego paymeau of nwmlrmtely' :;‘mooo ermany on accoun army costs and $9,000,000 on account of Ger- man claims payments. Without the Hoover plan this country would receive in round numbers the following pay- ments from our debtor nations: $160,- 000,000 from Great Britain, $50,000,000 from France, $15,000,000 from Italy, $8,000,000 from Belgium, $7,000,000 C: and lesser amounts from set eral others of the smaller European nations. German Payments $373,600,000, ‘The reparations which Germany would be called upon to pay during the coming r, if the Hoover plan were not lective, are as follows: France, $192,100,000; Great Britain, $82,500,000; Italy, $44,800,000; l.eolglum. ,000; 000,000; | Jugoslavia, $1,600,000, and None Better— Few as Good Sold on Easy Terms GIBSON’S 915-19 G St. N.W. Text of Note on Debts American Government Suggests That France Aceept Proposal and Refer Technical Points to Commitiee of Experts, ‘The following is the text of the debt memorandum sent by the United States Friday night: ‘The American Government is pleased to understand that the Prench govern- ment is now in general agreement with it on all major questions of principle which have been before the two gov- ernments for discussion and concern- ing which the American Government is an interested party. 1. That France will forego the re- tention of any payments from Germany for the period of one year, and that the principle of continuity of payments of unconditional annuities is recognized while complete rellef to Germany is . We understand that this point is now settled by the provision that the payments made by the Ger- man Reilway Co. to the Bank for In national Settlements shall be reloaned the fol- our understanding that the French government proposes now that the Young plan payments which’are required of the German Railway Co. into the Bank for International Set- tlements should be paid as for- merly and that that of such pay- ments which is for bution to the different governments benefiting there- by is to be reloaned to the German Rallway Co. and will be available for whatever use may be determined by the railway company, including direct or Indluetc' loans to the govern- ment Terms for Rallway Loan. Prom this proposal we understand that during the moratorium year the annual contribution of 660 million reichsmarks by the German Railway Co. will continue to be made to the Bank for International Settlements through their account in the Reichs- to be deposited for International the terms of the Germany Rallway Co.'s ocertificate. Toooalls Sty pepable” by Goer- postponable annuity payal y Ger- many to the Bank for Interna- tional Settlements to the account of the creditor powers amounting to 61 000,000 reichsmarks. This covers ser: ice on the 1930 German international loan (Young plan), but it does not cover service on the 1974 German ex- ternal loan (Dawes loan), which is to be paid independently by Germany. For the pu of maintaining intact the continuity of payments on the un- conditional annuities, the payment by the German Railway Co. in the year of nement shall be made into the Bank for International Settlements and shall be on account of Ger- many's liability to make the un- conditional payment. Any balance of the 612.000,000 reichsmarks that may be | left after service is provided for on | the 1930 German international loan is | to be loaned to the German Railway by the Bank for International Set- tlements for the period upon. The loan thus contemplated is| to be made for the account and risk of the creditor powers which share the unconditional annuity #according to their interests therein. Presumably the difference between the 660.000.000 reichsmarks and the 612,000,000 reichs- marks above mentioned is to be used on the service of the 4 Ger- Poland, $100,000. These payments total $373.600,000. Germany is also required to pay to Belgium $5,100,000 for losses | during the occupation of Belgium by‘ Germany during the war and the in- | sistence by Germany at that time that | the !egnu accept the German mark at its full face value of 24 cents, though the mark was then greatly depreciated. ‘The German reparations are divided into conditional and unconditional under the terms of the Young plan. Germany, under that plan, may de- clare a moratorium in regard to the conditional reparations, but may not do s0 with regard to the unconditional. ‘The unconditional reparations this year would amount to $130.600,000 and the conditional $243,000,000. France Sacrifices $82,000,000. France under the terms of the Young plan and the debt agreements she has entered into with the United States and Great Britain, would receive from Germany a total of $192,000,000 in reparations during the coming year, and would pay to the United States $50,- 000,000 and to Great Britain $60,000,- 000. The difference between the two, the receipts of France from Germany and the payments to this country and Great Britain, amounting to $82,000,- 000, somewhat measures the sacrifice that France is making under this plan. However, it was realized that if noth- ing were done to aid Germany in this economic crisis she would declare a moratorium on her reparations, which would have reduced her payments to France to $109,000,000 of unconditional reparations, which would have merely offset the payments due by Prance to this country and Great Britain. And in addition Prance would be compelled, under such circumstances to live up to a provision of the Young plan whereby France would pay into the Bank for International Settlements the so-called guarantee fund of 500,000,000 marks, in the neighborhood of $100,000,000, leaving France actually out of pocket by that amount during the coming year. BRITISH SHIPS AT KIEL Visit Is First Since 1914 as World ‘War Opened. KIEL, Germany, July 4 (#).—Two British cruisers, the Dorsetshire and the Norfolk, newest of their type, steamed into Kiel harbor today paying their official respects for the first time since June, 1914, when the visit of the British fleet was interrupted by the assassina- tion of Archduke Prancis Ferdinand at Sarajevo in_Bosnia—the event that started the World War. ‘The meeting today reunited as friends two men who fought each other in' the battle of Jutland—Rear Admiral ‘T. A. Eastley-Rushton and Vice Ad- miral Hansen, now commander of the Baitic naval_station. SPECIAL NOTICE Springer Sanitarium Over 30 years treating nervous diseases ard m abuse oh W rad forin near Pimlico. File Clerk Exam. (Salaries, $1,260—$1,440) Ass’t Statistical Clerk (Balary, $1,620) Coaching Courses. All subjects covered thoroughly. Printed lessons and graphs loaned. No books to buy. Tuition: Night, 7-9, $10; two courses, $15. Large, airy, cool classrooms. Start TODAY—Don't Miss & Class. Boyd School 1333 F St. (Opp. Fox) S Nat, 2338. stood, furthermore, that Germany is to provide by separate means the neces- sary additional amounts to carry ouf ts on the 1924 German external ). 2. That the Prench government that $26,000,000 of the uncon- di payments . pald into the Bank for International Settlements should be made available for loans to Central European countries, more par- deuhrl"thnn ‘whose budgets are af- the ition quate mumqu for origin: the al French tion. pu!r'lh out, however, that action by the central banks cannot be made the sub- Ject &l an agreement between govern- Differed on Time. 8. That the two goveinments differed 88 to the time over which the suspended payments should be funded, including, of course, both conditional and un- conditional reparations. The Ameri- can Government understands that the French rmment is now willing to defer repayments for two years from the end of the year of post- ponement and thereafter that they be repaid over a period of 10 years in equal annual or semi-annual instal- ments providing certain other ques- TMWWHMM PRESIDENT VISITS CAMP ON HOLIDAY Hoover Leaves Advisers Here fo Keep In Touch With B Debt Situation, By the Associated Press. President Hoover went to his Rapidan camp yesterday, leaving his close ad- Vvisers to keep in direct touch with de- velovmemnm moratorium negotia- tions at . Ry oy T Tetaries and of the State and Treasury Departments. Held Conference Later. Castle said later there had been no change in the situation since Priday nlfht‘l discussions in Parls which re- sulted in the settlement of major dif- ferences, but left some points still in dispute. After the President’s departure, Castle, Mills and Ambassador Claudel were in conference at the State Department. Mr. Hoover had postponed leaving for the camp, awaiting developments from Paris. He originally planned to g0 Priday night. To Return Monday. ‘With him in his car was Mark Sulli- van, newspaper writer. Other guests preceded the President. They were Senator and Mrs. Reed of Pennsylvania, tions are satisfactorily disposed of. This | M funding period is satisfact American Government. e 4. As to the guarantee fund, we understand that the French government now indicates that it can drop this from the discussion so far as the Amer- ican Government is concerned. 5. That in so far as deliveries in kind are concerned, the American Govern- ment has consistently taken the po- sition that the solution of the problem arising from existing contracts falling due in the year July 1, 1931, to June 30, 1932, should be a matter for later discussion and solution by experts of the t;:flhe.r‘!,‘nt :lnhnmd powers, the Frencl ing already agreed that th will retain nothing during the years 3 su ‘The solution as worked out should, of course, be within the spirit of the President's proposal. Details to Committee. It appears, therefore, that on the major question, namely, the principle of continuity of the unconditional pay- ments, the methed of affording com- plete relief to Germany by the reloaning of the sum deposited on account of the unconditional payment with the Bank of International Settlement, the prin- ciple of complete suspension of all pay- ments for one year, and the period of the funding of the suspended payment, the two Governments are in substantial | accord. The other questions do not | appear to be of such a character as to justify further postponing of final agreement between the two Govern- ments, particularly as they involve diffi- cult technical questions under the Young plan, to which the United States is not a party. The American Govern- ment suggests that they could with propriety be left to a committee of ex- perts from the treasuries of the prin- cipal interested powers, but that they should be settled within the spirit of the President’s proposal. ‘The American Government offers a positive form of termination of the negotiations, and that is that the Prench Government should accept the | President’s proposal and refer all Yech- | nical questions not already agreed upon | to a committee, as suggested above, with instructions that they -should work daughter Narcisse, Mr. and Mrs. George Cole Scott of Richmond, their son George, and Mrs. Evelyn W. Allen of Brooklyn. ’ Mr. Hoover made arrangements to keep in touch with Mills and Castle here throughout his stay at the camp. He planned to return to the city Mon- day morning. ALICE MARY ROBERTSON BURIED IN MUSKOGEE By the Associated Press. MUSKOGEE, Okla, July 4.—Miss Alice Mary Robertson, the Nation's sec- ond Congresswoman, was buried here yesterday, a bugler sounding taps at the conclusion of the simple rites. President Hoover sent ocondolences to Mrs. Augusta Moore of Haskell, a sister of Miss Robertson, as did Secre- tary of War Patrick J. Hurley and ‘Theodore Roosevelt, Governor General of Porto Rico. ‘The services at the First Presbyterian Church were led by Rev. W. G. Letham, pastor. Dr. John B. Finlayson, president of the University of Tulsa, which f merly was Henry Kendall College, M kogee, founded by Miss Robertson, of- fered 'a prayer at the services. “Miss Allce"mfll!d ‘Wednesda; the Outdoor Room Room is lar, 28 Oakwood Rd-Hyatt464 them out within the spirit of the Presi- dent’s proposal. ~WRECKING~y equipment carefully AWAY PRICES. Oil Pumps { e A 3 ls in the Ar: Capitol Gasoline (Filling) Station, 1st and Md. Ave. S.W., One Block from Peace Monument—one of the finest filling stations in Washington. dismantled and for sale at GIVE- All fixtures and = Toledo Air Scales Gas Pumps Gasoline Tanks 't Lose a Moment Investigating the BARGAINS Salesmen on Premises RRIS WRECKING CO Pa. Ave/J[[liiiPh. NAt. 9196l *=: ,3 WRECKING~ From This 3-City-Block Area Penn. Avenue to B Street Between Sth and 10fh Streets Northwest Also eéntire_residence block on’ F Street S.W., between 10th and 11th Streets. Materials include Doors, Windows. Flooring, 1 and 2 inch Lumber, also trim, plumbing, premises. Salesmen on etc, all carefully dismantled. STRUCTURAL STEEL Beams cut to desired length also Bethlehem columns Kindling Wood lc Ib. Bank Vault Doors with Time Locks. Also Safe Deposit Boxes and Steel Warehouse Doors, size 31,x7 feet, and many other sizes, complete. One Building in This Area Is of MARBLE—It Is Being Carefully Dismantled—VERY LOW PRICES 5" White Enamel Brick. §S"Steam Heating Boilers and Radiators. §S" Wrought Iron Door and Window Guards in all sizes and sh: THIS is s REAL OPPO AT THE VERY LOWEST PRICES. & Pipe— Wrought Iron Pip includi Water, Steam and Conduit. @ Window Frames and Doors—Single Sas“. 50c; Complete Window ,2.00. \ w RTUNITY TO BUY BUILDING MATERIALS material carefully dismantled. ALL HARRIS WRECKING CO. 900 Pa. Ave. N.W. Phone Nat. 9196 Salesmen on Premisdy: